CMA Foundation Syllabus 2023 Inspire Academy

The CMA Foundation syllabus is available now to all CMA Foundation aspirants so that they can plan their study effectively.. Before start their study, candidates who have registered for the exam must go through the CMA Foundation Syllabus properly so that they can understand it well.. The CMA Foundation syllabus for CMA Foundation exam has been published by ICMAI and will be used starting in the June 2023 term. The CMA Foundation exam will be administered using the 2016 syllabus until December 2023. Candidates who want to switch from the old to the new syllabus must pay a conversion fee of Rs. 250. The CMA Foundation syllabus 2023 includes information about the papers covered, subjects, and subtopics covered. According to the exam schedule, the CMA Foundation exam is offered twice a year by ICMAI: once in June and once in December.

The CMA Foundation syllabus is available now to all CMA Foundation aspirants so that they can plan their study effectively.. Before start their study, candidates who have registered for the exam must go through the CMA Foundation Syllabus properly so that they can understand it well.. The CMA Foundation syllabus for CMA Foundation exam has been published by ICMAI and will be used starting in the June 2023 term. The CMA Foundation exam will be administered using the 2016 syllabus until December 2023. Candidates who want to switch from the old to the new syllabus must pay a conversion fee of Rs. 250. The CMA Foundation syllabus 2023 includes information about the papers covered, subjects, and subtopics covered. According to the exam schedule, the CMA Foundation exam is offered twice a year by ICMAI: once in June and once in December.

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CMA Foundation syllabus
CMA Foundation Syllabus
CMA Foundation syllabus

Paper 1 – Fundamentals Of Financial And Cost Accounting (FFCA)

Paper 1 – Fundamentals Of Financial And Cost Accounting (FFCA)

Module no.Module DescriptionWeightSection A: Fundamentals of Financial Accounting70%Module no.Module DescriptionWeight

Module no.

Module no.

Module Description

Module Description

Weight

Weight

Section A: Fundamentals of Financial Accounting70%

Section A: Fundamentals of Financial Accounting

Section A: Fundamentals of Financial Accounting

70%

70%

1.Accounting Fundamentals30%2.Accounting for Special Transactions15%3.Preparation of Final Accounts25%4.Section B: Fundamentals of Cost Accounting30%Fundamentals of Cost Accounting30%1.Accounting Fundamentals30%

1.

1.

Accounting Fundamentals

Accounting Fundamentals

30%

30%

2.Accounting for Special Transactions15%

2.

2.

Accounting for Special Transactions

Accounting for Special Transactions

15%

15%

3.Preparation of Final Accounts25%

3.

3.

Preparation of Final Accounts

Preparation of Final Accounts

25%

25%

4.Section B: Fundamentals of Cost Accounting30%

4.

4.

Section B: Fundamentals of Cost Accounting

Section B: Fundamentals of Cost Accounting

30%

30%

Fundamentals of Cost Accounting30%

Fundamentals of Cost Accounting

Fundamentals of Cost Accounting

30%

30%

SECTION A: Fundamentals Of Financial Accounting

SECTION A: Fundamentals Of Financial Accounting

1. Accounting Fundamentals

• Accounting Fundamentals

Accounting Fundamentals1.1 Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional and

1.1 Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional andRegulatory) and Forms of Organisation

Regulatory) and Forms of Organisation1.2 Accounting Principles, Concepts and Conventions

1.2 Accounting Principles, Concepts and Conventions1.3 Capital and Revenue Transactions – Capital and Revenue Expenditures, Capital and Revenue

1.3 Capital and Revenue Transactions – Capital and Revenue Expenditures, Capital and RevenueReceipts

Receipts1.4 Accounting Cycle – Charts of Accounts and Codification Structure, Analysis of Transaction –

1.4 Accounting Cycle – Charts of Accounts and Codification Structure, Analysis of Transaction –Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books and

Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books andFinalisation of Accounts

Finalisation of Accounts1.5 Journal (Day Books; Journal Proper – Opening, Transfer, Closing, Adjustment and Rectification

1.5 Journal (Day Books; Journal Proper – Opening, Transfer, Closing, Adjustment and RectificationEntries), Ledger

Entries), Ledger1.6 Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement

1.6 Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement1.7 Trial Balance

1.7 Trial Balance1.8 Adjustment Entries and Rectification of Errors

1.8 Adjustment Entries and Rectification of Errors1.9 Depreciation (Straight Line and Diminishing Balance Methods only)

1.9 Depreciation (Straight Line and Diminishing Balance Methods only)1.10 Accounting Treatment of Bad Debts and Provision for Doubtful Debts

1.10 Accounting Treatment of Bad Debts and Provision for Doubtful Debts

2. Accounting for Special Transactions

• Accounting for Special Transactions

Accounting for Special Transactions2.1 Consignment

2.1 Consignment2.2 Joint Venture

2.2 Joint Venture2.3 Bills of Exchange (excluding Accommodation Bill, Insolvency)

2.3 Bills of Exchange (excluding Accommodation Bill, Insolvency)

3. Preparation of Final Accounts

• Preparation of Final Accounts

Preparation of Final Accounts3.1 Preparation of Financial Statements of Sole Proprietorship

3.1 Preparation of Financial Statements of Sole Proprietorship3.1.1 Income Statement, Balance Sheet

3.1.1 Income Statement, Balance Sheet3.2 Preparation of Financial Statements of a Not-for-Profit Organisation

3.2 Preparation of Financial Statements of a Not-for-Profit Organisation3.2.1 Preparation of Receipts and Payments Account

3.2.1 Preparation of Receipts and Payments Account3.2.2 Preparation of Income and Expenditure Account

3.2.2 Preparation of Income and Expenditure Account3.2.3 Preparation of Balance Sheet

3.2.3 Preparation of Balance SheetSection B: Fundamentals Of Cost Accounting

Section B: Fundamentals Of Cost Accounting

4. Fundamentals of Cost Accounting

• Fundamentals of Cost Accounting

Fundamentals of Cost Accounting4.1 Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting

4.1 Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting4.2 Application of Cost Accounting for Business Decisions

4.2 Application of Cost Accounting for Business Decisions4.3 Definition of Cost, Cost Centre, Cost Unit and Cost Drivers

4.3 Definition of Cost, Cost Centre, Cost Unit and Cost Drivers4.4 Classification of Costs (with reference to Cost Accounting Standard 1)

4.4 Classification of Costs (with reference to Cost Accounting Standard 1)4.5 Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)

4.5 Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)

Paper 2- Fundamentals Of Business Laws And Business Communication (FBLC)

Paper 2- Fundamentals Of Business Laws And Business Communication (FBLC)

Module no.Module DescriptionWeightSection A: Fundamentals of Business Laws80%1.Introduction10%2.Indian Contracts Act, 187230%3.Sale of Goods Act, 193020%4.Negotiable Instruments Act,188120%5.Section B: Business Communication20%Business Communication20%Module no.Module DescriptionWeight

Module no.

Module no.

Module Description

Module Description

Weight

Weight

Section A: Fundamentals of Business Laws80%

Section A: Fundamentals of Business Laws

Section A: Fundamentals of Business Laws

80%

80%

1.Introduction10%

1.Introduction

Introduction

10%

10%

2.Indian Contracts Act, 187230%

2.Indian Contracts Act, 1872

Indian Contracts Act, 1872

30%

30%

3.Sale of Goods Act, 193020%

3.Sale of Goods Act, 1930

Sale of Goods Act, 1930

20%

20%

4.Negotiable Instruments Act,188120%

4.Negotiable Instruments Act,1881

Negotiable Instruments Act,1881

20%

20%

5.Section B: Business Communication20%

5.Section B: Business Communication

Section B: Business Communication

20%

20%

Business Communication20%

Business Communication

Business Communication

20%

20%

SECTION A: Fundamentals Of Business Laws

SECTION A: Fundamentals Of Business Laws

1. Introduction

• Introduction

Introduction1.1 Sources of Law

1.1 Sources of Law1.2 Legislative Process in India

1.2 Legislative Process in India1.3 Legal Methods and Court System in India

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1.3 Legal Methods and Court System in India1.4 Primary and Subordinate Legislation

1.4 Primary and Subordinate Legislation

2. Indian Contracts Act, 1872

• Indian Contracts Act, 1872

Indian Contracts Act, 18722.1 Essential Elements of a Contract, Types of Contract, Offer and Acceptance

2.1 Essential Elements of a Contract, Types of Contract, Offer and Acceptance2.2 Void and Voidable Agreements, No Consideration No Contract

2.2 Void and Voidable Agreements, No Consideration No Contract2.3 Consideration, Legality of Object and Consideration

2.3 Consideration, Legality of Object and Consideration2.4 Capacity of Parties, Free Consent

2.4 Capacity of Parties, Free Consent2.5 Quasi and Contingent Contracts

2.5 Quasi and Contingent Contracts2.6 Performance of Contracts

2.6 Performance of Contracts2.7 Meaning of Indemnity, Guarantee, Pledge, Agent

2.7 Meaning of Indemnity, Guarantee, Pledge, Agent2.8 E-Contracts and E-Signature – Meanings and Requirements

2.8 E-Contracts and E-Signature – Meanings and Requirements2.9 Discharge of Contracts

2.9 Discharge of Contracts2.10 Breach of Contract and Remedies for Breach of Contract

2.10 Breach of Contract and Remedies for Breach of Contract

3. Sale of Goods Act, 1930

• Sale of Goods Act, 1930

Sale of Goods Act, 19303.1. Definition

3.1. Definition3.2. Transfer of Ownership

3.2. Transfer of Ownership3.3. Essential Conditions of a Contract of Sale

3.3. Essential Conditions of a Contract of Sale3.4. Conditions and Warranties

3.4. Conditions and Warranties3.5. Performance of the Contract of Sale

3.5. Performance of the Contract of Sale3.6. Rights of Unpaid Seller

3.6. Rights of Unpaid Seller

4. Negotiable Instruments Act, 1881

• Negotiable Instruments Act, 1881

Negotiable Instruments Act, 18814.1. Characteristics of Negotiable Instruments

4.1. Characteristics of Negotiable Instruments4.2. Definitions of Promissory Note, Bill of Exchange and Cheque

4.2. Definitions of Promissory Note, Bill of Exchange and Cheque4.3. Difference between Promissory Note, Bill of Exchange and Cheque

4.3. Difference between Promissory Note, Bill of Exchange and Cheque4.4. Crossing – Meaning, Definition and Types of Crossing

4.4. Crossing – Meaning, Definition and Types of Crossing4.5. Dishonour of Cheques (Section 138)

4.5. Dishonour of Cheques (Section 138)SECTION B: BUSINESS COMMUNICATION

SECTION B: BUSINESS COMMUNICATION

5. Business Communication

• Business Communication

Business Communication5.1 Introduction to Business Communication

5.1 Introduction to Business Communication5.2 Features of Effective Business Communication

5.2 Features of Effective Business Communication5.3 Process of Communication

5.3 Process of Communication5.4 Types of Business Communication

5.4 Types of Business Communication5.4.1 Formal and Informal Communication

5.4.1 Formal and Informal Communication5.4.2 Verbal, Non-verbal and Written Communication

5.4.2 Verbal, Non-verbal and Written Communication5.4.3 Vertical, Horizontal and Diagonal Communication

5.4.3 Vertical, Horizontal and Diagonal Communication5.4.4 Upward and Downward Communication

5.4.4 Upward and Downward Communication5.4.5 Lateral Communication

5.4.5 Lateral Communication5.5 Internet Based Business Communication

5.5 Internet Based Business Communication5.6 Do’s and Don’ts of Communication through Social Media

5.6 Do’s and Don’ts of Communication through Social Media5.7 Writing and Drafting for Business Audiences

5.7 Writing and Drafting for Business Audiences5.7.1 Letter and Memorandum

5.7.1 Letter and Memorandum5.7.2 Report – Formal and Informal

5.7.2 Report – Formal and Informal5.7.3 Business Proposal

5.7.3 Business Proposal5.7.4 Enhancement of Writing Skills

5.7.4 Enhancement of Writing Skills5.8 Intercultural and International Business Communication

5.8 Intercultural and International Business Communication5.9 Barriers to Business Communication

5.9 Barriers to Business Communication5.10 Legal Aspects of Business Communication

5.10 Legal Aspects of Business Communication5.11 Use of Graphics and References for Business Communication

5.11 Use of Graphics and References for Business Communication

Paper 3 – Fundamentals Of Business Economics And Management (FBEM)

Paper 3 – Fundamentals Of Business Economics And Management (FBEM)

Module no.Module DescriptionWeightSection A: Fundamentals of Business Economics70%1.Basic Concepts15%2.Forms of Market20%3.Money and Banking20%4.Economic and Business Environment15%5.Section B: Fundamentals of Management30%Fundamentals of Management30%Module no.Module DescriptionWeight

Module no.

Module no.

Module Description

Module Description

Weight

Weight

Section A: Fundamentals of Business Economics70%

Section A: Fundamentals of Business Economics

Section A: Fundamentals of Business Economics

70%

70%

1.Basic Concepts15%

1.

1.

Basic Concepts

Basic Concepts

15%

15%

2.Forms of Market20%

2.

2.

Forms of Market

Forms of Market

20%

20%

3.Money and Banking20%

3.

3.

Money and Banking

Money and Banking

20%

20%

4.Economic and Business Environment15%

4.

4.

Economic and Business Environment

Economic and Business Environment

15%

15%

5.Section B: Fundamentals of Management30%

5.

5.

Section B: Fundamentals of Management

Section B: Fundamentals of Management

30%

30%

Fundamentals of Management30%

Fundamentals of Management

Fundamentals of Management

30%

30%

Section A: Fundamentals Of Business Economics

Section A: Fundamentals Of Business Economics

1. Basic Concepts

• Basic Concepts

Basic Concepts1.1 The Fundamentals of Economics

1.1 The Fundamentals of Economics1.2 Utility, Wealth, Production

1.2 Utility, Wealth, Production1.3 Theory of Demand (Meaning, Determinants of Demand, Law of Demand, Elasticity of Demand

1.3 Theory of Demand (Meaning, Determinants of Demand, Law of Demand, Elasticity of Demand– Price, Income and Cross Elasticity, Theory of Consumer Behaviour, Demand Forecasting) and

– Price, Income and Cross Elasticity, Theory of Consumer Behaviour, Demand Forecasting) andSupply (Meaning, Determinants, Law of Supply and Elasticity of Supply), Equilibrium

Supply (Meaning, Determinants, Law of Supply and Elasticity of Supply), Equilibrium1.4 Theory of Production (Meaning, Factors, Laws of Production – Law of Variable Proportion, Laws

1.4 Theory of Production (Meaning, Factors, Laws of Production – Law of Variable Proportion, Lawsof Returns to Scale)

of Returns to Scale)1.5 Cost of Production (Concept of Costs, Short-run and Long-run Costs, Average and Marginal Costs,

1.5 Cost of Production (Concept of Costs, Short-run and Long-run Costs, Average and Marginal Costs,Total, Fixed and Variable Costs)

Total, Fixed and Variable Costs)1.6 Means of Production

1.6 Means of Production

2. Forms of Market

• Forms of Market

Forms of Market2.1 Pricing of Products and Services in Various Forms of Markets – Perfect Competition, Duopoly,

2.1 Pricing of Products and Services in Various Forms of Markets – Perfect Competition, Duopoly,Oligopoly, Monopoly, Monopolistic Competition

Oligopoly, Monopoly, Monopolistic Competition2.2 Price Discrimination

2.2 Price Discrimination

3. Money and Banking

• Money and Banking

Money and Banking3.1 Money – Types, Features and Functions

3.1 Money – Types, Features and Functions3.2 Banking – Definition, Functions, Utility, Principles

3.2 Banking – Definition, Functions, Utility, Principles3.3 Commercial Banks, Central Bank

3.3 Commercial Banks, Central Bank3.4 Measures of Credit Control and Money Market

3.4 Measures of Credit Control and Money Market

4. Economic and Business Environment

• Economic and Business Environment

Economic and Business Environment4.1 PESTEL (Political, Economic, Societal, Technological, Environmental and Legal) Analysis

4.1 PESTEL (Political, Economic, Societal, Technological, Environmental and Legal) Analysis4.2 Emerging Dimensions of VUCAFU (Volatility, Uncertainty, Complexity, Ambiguity, Fear of

4.2 Emerging Dimensions of VUCAFU (Volatility, Uncertainty, Complexity, Ambiguity, Fear ofUnknown and Unprecedented Ness)

Unknown and Unprecedented Ness)

Section B – Fundamentals Of Management

Section B – Fundamentals Of Management

5. Fundamentals of Management

• Fundamentals of Management

Fundamentals of Management5.1 Introduction to Management

5.1 Introduction to Management5.2 Stewardship Theory and Agency Theory of Management

5.2 Stewardship Theory and Agency Theory of Management5.3 Planning, Organising, Staffing and Leading

5.3 Planning, Organising, Staffing and Leading5.4 Communication, Coordination, Collaboration, Monitoring and Control

5.4 Communication, Coordination, Collaboration, Monitoring and Control5.5 Organisation Structure, Responsibility, Accountability and Delegation of Authority

5.5 Organisation Structure, Responsibility, Accountability and Delegation of Authority5.6 Leadership and Motivation – Concepts and Theories

5.6 Leadership and Motivation – Concepts and Theories5.7 Decision-making – Types and Process

5.7 Decision-making – Types and Process

Paper 4 – Fundamentals Of Business Mathematics And Statistics (FBMS)

Paper 4 – Fundamentals Of Business Mathematics And Statistics (FBMS)

Module no.Module DescriptionWeightSection A: Fundamentals of Business Mathematics40%1.Arithmetic15%2.Algebra20%3.Calculus – Application in Business5%4.Section B: Fundamentals of Business Statistics60%Statistical Representation of Data5%5.Measures of Central Tendency and Dispersion15%6.Correlation and Regression15%7.Probability15%8.Index Numbers and Time Series10%Module no.Module DescriptionWeight

Module no.

Module no.

Module Description

Module Description

Weight

Weight

Section A: Fundamentals of Business Mathematics40%

Section A: Fundamentals of Business Mathematics

Section A: Fundamentals of Business Mathematics

40%

40%

1.Arithmetic15%

1.

1.

Arithmetic

Arithmetic

15%

15%

2.Algebra20%

2.

2.

Algebra

Algebra

20%

20%

3.Calculus – Application in Business5%

3.

3.

Calculus – Application in Business

Calculus – Application in Business

5%

5%

4.Section B: Fundamentals of Business Statistics60%

4.

4.

Section B: Fundamentals of Business Statistics

Section B: Fundamentals of Business Statistics

60%

60%

Statistical Representation of Data5%

Statistical Representation of Data

Statistical Representation of Data

5%

5%

5.Measures of Central Tendency and Dispersion15%

5.

5.

Measures of Central Tendency and Dispersion

Measures of Central Tendency and Dispersion

15%

15%

6.Correlation and Regression15%

6.

6.

Correlation and Regression

Correlation and Regression

15%

15%

7.Probability15%

7.

7.

Probability

Probability

15%

15%

8.Index Numbers and Time Series10%

8.

8.

Index Numbers and Time Series

Index Numbers and Time Series

10%

10%

Section A: Fundamentals Of Business Mathematics

Section A: Fundamentals Of Business Mathematics

1. Arithmetic

• Arithmetic

Arithmetic1.1 Ratios, Variations and Proportions

1.1 Ratios, Variations and Proportions1.2 Time Value of Money and Annuity – Simple and Compound Interest

1.2 Time Value of Money and Annuity – Simple and Compound Interest1.3 Arithmetic Progression and Geometric Progression

1.3 Arithmetic Progression and Geometric Progression1.4 Time and Distance

1.4 Time and Distance

2. Algebra

• Algebra

Algebra2.1 Set Theory, including Venn Diagram

2.1 Set Theory, including Venn Diagram2.2 Indices and Logarithms (Basic Concepts)

2.2 Indices and Logarithms (Basic Concepts)2.3 Permutation and Combinations (Basic Concepts)

2.3 Permutation and Combinations (Basic Concepts)2.4 Quadratic Equations (Basic Concepts)

2.4 Quadratic Equations (Basic Concepts)

3. Calculus – Application in Business

• Calculus – Application in Business

Calculus – Application in Business3.1 Concept of Calculus and its Application in Business

3.1 Concept of Calculus and its Application in Business3.2 Revenue and Cost Function

3.2 Revenue and Cost Function3.3 Optimisation Techniques (Basic Concepts)

3.3 Optimisation Techniques (Basic Concepts)Section B: Fundamentals Of Business Statistics

Section B: Fundamentals Of Business Statistics

4. Statistical Representation of Data

• Statistical Representation of Data

Statistical Representation of Data4.1 Diagrammatic Representation of Data

4.1 Diagrammatic Representation of Data4.2 Frequency Distribution

4.2 Frequency Distribution4.3 Graphical Representation of Frequency Distribution – Histogram, Frequency Polygon Curve, Ogive, Pie-chart

4.3 Graphical Representation of Frequency Distribution – Histogram, Frequency Polygon Curve, Ogive, Pie-chart

5. Measures of Central Tendency and Dispersion

• Measures of Central Tendency and Dispersion

Measures of Central Tendency and Dispersion5.1 Mean, Median, Mode, Mean Deviation

5.1 Mean, Median, Mode, Mean Deviation5.2 Range, Quartiles and Quartile Deviation

5.2 Range, Quartiles and Quartile Deviation5.3 Standard Deviation

5.3 Standard Deviation5.4 Coefficient of Variation

5.4 Coefficient of Variation5.5 Karl Pearson and Bowley’s Coefficient of Skewness

5.5 Karl Pearson and Bowley’s Coefficient of Skewness

6. Correlation and Regression

• Correlation and Regression

Correlation and Regression6.1 Scatter Diagram

6.1 Scatter Diagram6.2 Karl Pearson’s Coefficient of Correlation

6.2 Karl Pearson’s Coefficient of Correlation6.3 Regression Analysis

6.3 Regression Analysis

7. Probability

• Probability

Probability7.1 Concepts and Terminologies

7.1 Concepts and Terminologies7.2 Primary applications of Probability Theorems

7.2 Primary applications of Probability Theorems

8. Index Numbers and Time Series

• Index Numbers and Time Series

Index Numbers and Time Series8.1 Uses of Index Numbers, Methods of Construction of Index Number

8.1 Uses of Index Numbers, Methods of Construction of Index Number8.2 Components of Time Series and Calculation of Trend by Moving Average Method

8.2 Components of Time Series and Calculation of Trend by Moving Average MethodConclusion:

Conclusion:It is always crucial to understand the CMA Foundation Syllabus as that is the only way to create the best study plan as per the weightage of the subjects & the length of the syllabus of the specific topics. The CMA Foundation syllabus 2023, which will be applicable for June 2023 & November 2023 & all the exams in future till the next update in CMA Foundation Syllabus.

It is always crucial to understand the CMA Foundation Syllabus as that is the only way to create the best study plan as per the weightage of the subjects & the length of the syllabus of the specific topics. The CMA Foundation syllabus 2023, which will be applicable for June 2023 & November 2023 & all the exams in future till the next update in CMA Foundation Syllabus.
CMA Foundation Syllabus
CMA Foundation syllabus
CMA Foundation SyllabusUnderstand the CMA Foundation Syllabus property & do well in the exams.

Understand the CMA Foundation Syllabus property & do well in the exams.BEst of luck to all CMA Foundation aspirants!